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AB-99 Personal income taxes: income exclusion: mortgage debt forgiveness.(2015-2016)

Bill Status
Perea (A)
Cannella (S)
Personal income taxes: income exclusion: mortgage debt forgiveness.
An act to amend Section 17144.5 of the Revenue and Taxation Code, relating to taxation, and declaring the urgency thereof, to take effect immediately.

Type of Measure
Inactive Bill - Vetoed
Two Thirds Vote Required
Fiscal Committee
Non-State-Mandated Local Program
Non-Tax levy
Last 5 History Actions
Date Action
01/15/16 Consideration of Governor's veto stricken from file.
10/10/15 Vetoed by Governor.
09/09/15 Enrolled and presented to the Governor at 4 p.m.
09/01/15 In Assembly. Ordered to Engrossing and Enrolling.
09/01/15 Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 2343.).
Governor's Veto Message
To the Members of the California State Assembly:

I am returning the following nine bills without my signature:

Assembly Bill 35
Assembly Bill 88
Assembly Bill 99
Assembly Bill 428
Assembly Bill 437
Assembly Bill 515
Assembly Bill 931
Senate Bill 251
Senate Bill 377

Each of these bills creates a new tax credit or expands an existing tax credit.

Despite strong revenue performance over the past few years, the state's budget has remained precariously balanced due to unexpected costs and the provision of new services. Now, without the extension of the managed care organization tax that I called for in special session, next year's budget faces the prospect of over $1 billion in cuts.

Given these financial uncertainties, I cannot support providing additional tax credits that will make balancing the state's budget even more difficult. Tax credits, like new spending on programs, need to be considered comprehensively as part of the budget deliberations.


Edmund G. Brown Jr.